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A blocked POF letter is a letter from a financial institution or government that approves the halting or reserving of a person's funds on behalf of them. [10] Governments can reserve a country's funds by restricting the maximum amount of funds that is allowed to be spent at a certain period of time in order to control the country's cash flow. [11]
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Funds may either be remitted by other, mutually agreed means, or payment may not be made at all. This is the case in the transfer of securities gifted or inherited, or, in a country retaining paper securities certificates, in the dematerialisation of such securities , by transfer FOP into the name of the electronic custodian, with beneficial ...
Remittance advice is a letter sent by a customer to a supplier to inform the supplier that their invoice has been paid. If the customer is paying by cheque, the remittance advice often accompanies the cheque.
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